Capital gains
This query is : Resolved
01 March 2014
can a body corporate dispose of a building to another body corporate at WDV without attracting capital gains tax. The shareholders are common in
both the companies. Also the purchasing company holds shares in the selling company. pls advice.
03 March 2014
If the building is transferred at WDV, then Section 50C will be attracted under which the stamp duty value will be treated as the sales consideration.
Alternative:
1. Gift the property (capital gain is exempt).
2. The transferor company should purchase shares in the transferee company and make the latter its subsidiary.
Capital gain on transfer by subsidiary to holding is exempt.
Alternative:
1. Gift the property (capital gain is exempt).
2. The transferor company should purchase shares in the transferee company and make the latter its subsidiary.
Capital gain on transfer by subsidiary to holding is exempt.
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